WASHINGTON – President Trump travels to Pennsylvania Wednesday to tell a crowd of truckers that his tax reforms will put more money in their pockets when corporations return money they’ve parked overseas.

Trump will make the case that wages for their US workers will rise when the cash comes back to the US under a lower tax rate.

“We will eliminate the penalty on returning future earnings back to the United States and we impose a one-time low tax on money currently parked overseas so it can be brought back home to America where it belongs,” Trump will say, according to speech excerpts.

“My Council of Economic Advisers estimates that this change alone will likely give the typical American household a $4,000 pay raise.”

The White House declined to disclose the rate that will be offered for the one-time tax holiday.

The concept is that if US companies bring back some of the estimated $2.5 trillion sitting in lower-tax countries they would invest in wage hikes for their US workers.

Kevin Hassett, chair of the Council of Economic Advisers, explained in a speech last week that while corporate profits grew 11 percent a year under President Obama, median wage growth lagged behind at 0.6 percent per yet.

He said if corporations brought home overseas cash and raised wages 1 percent a year, then the average household would see a $4,000 real income raise over eight years.

But there’s no guarantee corporations will use the tax break to invest in workers.

A 2004 tax break under President George W. Bush allowed corporations to repatriate foreign income at a tax rate of 5.25 percent.

About $300 billion did come back to the US. But studies found that benefited shareholders and raised executive compensation. In fact, a 2011 Senate study (paywall) on the tax holiday found the 15 international companies that repatriated the most money actually cut more than 20,000 net jobs between 2004 and 2007.

At least 367 of the Fortune 500 companies operate one or more subsidiaries in tax haven countries, according to a 2016 study by the US Public Interest Research Group Education Fund.